Equity benchmarks slipped in early trade on Friday after facing resistance at higher levels, with the Nifty 50 sliding into negative territory even as the Sensex held marginal gains, driven by diverging global cues and fresh selling in technology and financial stocks.
The Nifty 50 opened at 24,165.90, down from its previous close of 24,196.75, and slipped further to 24,149.90, a fall of 46.85 points or 0.19 per cent, by 9.16 am. The Sensex, which closed at 77,988.68 on Wednesday, opened at 77,976.13 and edged up to 78,128.35, a gain of 139.67 points or 0.18 per cent, in the same period.
Wipro was the session’s biggest drag after its Q4 earnings showed a marginal decline in net profit. The stock opened at ₹205 and fell to ₹204.46, down 2.76 per cent, on the highest traded value in the Nifty at ₹14,721.51 lakhs. The company also announced a ₹15,000 crore buyback at ₹250 per share, but the announcement was unable to arrest the selling. HDFC Life shed 2.23 per cent to ₹617.40 against its previous close of ₹631.50. HCL Technologies dropped 1 per cent to ₹1,435.70 from ₹1,450.20, while Tech Mahindra was down 0.90 per cent at ₹1,477.60 against ₹1,491.00. Hindalco, which had been among the previous session’s leaders, gave back some gains, slipping 0.85 per cent to ₹1,031.05.
On the gaining side, NTPC added 1.31 per cent to ₹395.90 against a previous close of ₹390.80. ITC rose 1.25 per cent to ₹307.20 from ₹303.40. Adani Ports climbed 0.85 per cent to ₹1,563.00 against ₹1,549.80, while Trent gained 0.84 per cent to ₹4,117.50 from ₹4,083.30. ONGC rose 0.69 per cent to ₹284.70.
Hariprasad K, SEBI-registered Research Analyst and Founder of Livelong Wealth, noted that the market is grappling with a divergence between global markets: …”Wall Street extended its rally, with the S&P 500 and Nasdaq closing at fresh highs… Asian markets appear less convinced, trading lower as investors remain wary of how durable these developments are.”
The session’s sectoral picture was mixed. Defence and metals found buyers, while banks, financials, and auto stocks saw selling pressure. The IT sector was under broad pressure following Wipro’s results, with multiple large-cap technology names trading lower. Devarsh Vakil, Head of Prime Research at HDFC Securities, noted that …”chip stocks, led by Nvidia, surged as renewed investor confidence in AI’s long-term growth potential drove buying interest”… on Wall Street overnight, though this sentiment had limited follow-through domestically given Wipro’s performance.
On the macro side, the Reserve Bank of India announced a ₹2 lakh crore seven-day variable rate reverse repo auction, a move aimed at absorbing excess liquidity from the banking system. Hariprasad K flagged that …”such actions tend to influence short-term interest rates and can have a broader impact on borrowing costs, thereby indirectly shaping consumption and investment trends.”
Foreign Institutional Investors were net buyers in the previous session, purchasing equities worth ₹382 crore, marking the second straight day of buying. Domestic Institutional Investors, however, sold equities worth over ₹3,400 crore, continuing their recent selling trend. Ponmudi R, CEO of Enrich Money, cautioned that …”after a phase of sustained outflows, recent sessions have shown signs of stabilisation and selective buying, offering some support to the market.”
Technically, the Nifty faces resistance between 24,350 and 24,400, a zone where selling emerged in the previous session after the index hit an intraday high of 24,400.95 before reversing sharply. Gaurav Udani, Founder of ThinCredBlu Securities, said …”fresh long positions should be considered only on a sustained move and close above 24,400, which would confirm strength and open up higher levels.”
India VIX remains above the 18 mark, pointing to elevated option premiums and an underlying layer of uncertainty. Jio Financial Services will also be closely tracked as it heads into its Q4 results, adding to the earnings-driven focus in the financials space.
The CBI has found no role of any Bank of India (BoI) officers in the conspiracy to pull off the alleged fraud of ₹82.55 crore orchestrated by absconding diamantaire Jatin Mehta, who is accused of siphoning off about ₹4,600 crore from multiple banks, officials said Thursday.
The investigating agency has concluded that the BoI officials did not indulge in any corrupt activity in the scam executed by Mehta and his company, Winsome Diamonds & Jewellery Limited, they said.
The CBI will soon be filing a charge sheet against the jeweller, who is understood to be in London, and his accomplices in the case registered under the provisions of the Indian Penal Code, they said.
“No incriminating material in respect of offences under Prevention of Corruption Act has been found against any public servant. Now, prosecution intends to file the charge-sheet only against private persons for the offences under provisions of Indian Penal Code…,” an official in the know of developments said.
The central probe agency had registered the FIR in 2019, alleging that the accused persons, including unidentified bank officials, entered into a criminal conspiracy during 2012-13 and defrauded BoI to the tune of ₹82.55 crore.
The accused got four Standby Letters of Credit issued to overseas bullion banks, Standard Bank PLC and the Bank of Nova Scotia, and a packing credit (short-term loan) from the bank. A Standby Letter of Credit (SBLC) is a bank’s guarantee to a third party if the bank’s client defaults on an agreement.
The BoI had sanctioned Winsome Diamond and Jewellery credit facilities of ₹96 crore, which included ₹6 crore fund-based and non-fund-based ₹90 crore through SBLC in 2012-13.
The agency has alleged that the purported buyers controlled by Mehta’s accomplice, UAE-based Haytham Salman Ali Abu Obeidah, in connivance with the jeweller and others, had willfully defaulted their payments, which led to the invocation of SBLCs by the bullion banks, causing wrongful loss of ₹82.55 crore to Bank of India.
tock Market Today | Share Market Live Updates – Benchmark indices ended marginally lower on Thursday after a volatile session, as profit-booking at higher levels and lingering uncertainty around US–Iran talks weighed on sentiment.
Vinod Nair, Head of Research at Geojit Investments, said the market ended with marginal losses on weekly expiry amid volatility and profit-booking. He noted that investors remain cautious ahead of further clarity on US–Iran negotiations, while a higher-than-expected WPI inflation print weighed on auto and consumption stocks.
The BSE Sensex declined 122.56 points or 0.16 per cent to close at 77,988.68 after hitting an intraday high of 78,730.32, while the NSE Nifty 50 slipped 34.55 points or 0.14 per cent to settle at 24,196.75. after touching 24,400.95.
Markets opened on a positive note, supported by easing geopolitical concerns, firm global cues and optimism around potential progress in US–Iran negotiations. However, indices failed to hold gains and slipped into negative territory amid profit-booking following the recent rally and rising oil prices, which reflected scepticism over the likelihood of a lasting peace deal.
The broader market continued to outperform the benchmarks, with the Nifty midcap 100 and Nifty smallcap 100 indices gaining 0.63 per cent and 0.89 per cent, respectively.
Sectorally, metals emerged as the top performers, supported by firm global commodity prices and a softer dollar.
Find here all the live updates related to Sensex, Nifty, BSE, NSE share prices and Indian stock markets for 17 April 2026.
April 17, 2026 07:56
Asian Stocks Set for Weekly Gains as Oil Holds Below $100
Asian stocks were poised for a second week of strong gains and oil prices were pinned below $100 a barrel with investors hopeful for a near-term resolution to the Middle East war.
Investors have been quick to take an optimistic view on any signs of denouement this month, even though the Strait of Hormuz – through which a fifth of the world’s oil and gas supply typically flows – remains closed.
A 10-day ceasefire between Lebanon and Israel went into effect on Thursday and President Donald Trump said the next meeting between the U.S. and Iran may take place over the weekend, when their current ceasefire is due to expire.
April 17, 2026 07:43
Lupin Settles Antitrust Case with Humana for $30 Million
Lupin: Co. enters settlement agreement paying $30 million to Humana Inc. to resolve antitrust lawsuits; LPI denies all allegations and settlement amount already provided in prior financial results
April 17, 2026 07:38
Dollar set for second weekly loss on Iran war peace hopes
The U.S. dollar was headed for a second consecutive weekly decline on Friday in tentative trade, as a ceasefire between Israel and Lebanon and prospects for fresh Iran talks prompted investors to unwind safe-haven positions.
A 10-day ceasefire between Lebanon and Israel went into effect on Thursday and President Donald Trump said the next meeting between the U.S. and Iran could take place over the weekend.
Meanwhile, U.S. and Iranian negotiators have scaled back ambitions for a comprehensive peace deal and are now seeking a temporary memorandum to prevent a return to conflict, with the nuclear issue remaining a core obstacle.
Currencies were mostly rangebound in Asia trade as investors awaited further details, leaving the euro steady against the dollar at $1.1783. The common currency was on track for a third straight weekly gain, while sterling traded at $1.3526.
(Reuters)
April 17, 2026 07:37
RBI asks state oil refiners to curb spot dollar buys
The Reserve Bank of India (RBI) has urged state-run oil refiners to curb spot dollar purchases and tap a special credit line for their foreign exchange needs, three sources said, reviving measures used earlier in the Ukraine war to ease pressure on the rupee.
Dalal Street set for dull start on Friday amid mixed global cues
Dalal Street set for dull start on Friday amid mixed global cues
Gift Nifty at 24,153 signals a marginal decline at open.
April 17, 2026 07:19
Sensex, Nifty likely to open weak on Friday
Indian stock markets are expected to open on a cautious note, on Friday amid mixed global cues.
Gift Nifty at 24,153 signals a marginal decline at open.
April 17, 2026 07:17
Asian Stocks Dip as Traders Await Ceasefire News
Asian stocks fell as investors lightened their positions ahead of the weekend while awaiting progress on extending the US-Iran ceasefire, after a rally driven by expectations the truce would be prolonged.
The MSCI Asia Pacific Index dropped 0.4%, snapping a three-day rally. The cautious end to the week followed a 10-day rally in global equities that pushed markets to a record high, as traders bet easing tensions will lower oil prices and support economic growth. Wall Street gauges also closed at an all-time high for a second consecutive day.
Global crude benchmark Brent slipped 1.3% to $98.14 a barrel after President Donald Trump expressed optimism about securing a permanent ceasefire with Iran ahead of the expiry of the current truce next week. Gold edged higher, while Treasuries were little changed
Investors are awaiting progress in talks that could reopen the Strait of Hormuz, easing crude flows and relieving pressure on economies after oil prices surged following the conflict’s onset in late February. While oil has pared its war-driven premium and stocks have climbed to record highs, economists are warning that markets may be underestimating the war’s economic toll.
(bloomberg)
April 17, 2026 07:14
Citius TransNet InvIT raises ~Rs 497 crore from Anchor Investors
Citius TransNet Investment Trust, which is a transport sector-focused infrastructure investment trust (“Citius TransNet InvIT”), established with an objective to acquire, manage and invest in a portfolio of transport infrastructure assets, including roads, in India, has successfully raised ~ ₹ 4,972 million from anchor investors today, ahead of its initial public offering that opens for public subscription on April 17, 2026.
Citius TransNet InvIT informed the bourses that it allocated 4,97,24,850 Units at ₹ 100 per Unit to anchor investors.
Citius TransNet InvIT has received interest from a diversified group of investors such as Prazim Trading, ASKWA Income Opportunities Fund, pension & provident funds, namely, HDFC Pension, SBI Pension, ICICI Prudential Pension, DSP Pension and Larsen & Toubro Provident Fund.
There was also participation from Mutual Funds across equity, hybrid and multi-asset schemes, namely, WhiteOak, DSP, Quant and Axis mutual fund.
Insurance investors are Bajaj Life, Axis Max Life, Bharti AXA and IndusInd General. Other participant included Nuvama Wealth.
Axis Capital, Ambit Private Limited and ICICI Securities are the book running lead managers, and Shardul Amarchand Mangaldas is the legal counsel to Citius TransNet InvIT.
April 17, 2026 07:14
Today’s Stock Pick | UnoMinda
April 17, 2026 07:13
Annual Financial highlights | SG Finserve
SG Finserve Limited (BSE: 539199), a rapidly growing non-banking financial company (NBFC), has announced its audited financial results for the quarter and year ended March 31, 2026. The company delivered a powerful performance, characterized by a near-doubling of revenue and significant expansion in profitability.
Annual Financial Highlights (FY26)
SG Finserve demonstrated exceptional growth momentum across its core lending operations:
Total Revenue from Operations: Nearly doubled to ₹33,341.28 Lakh, up from ₹16,997.14 Lakh in FY25. This was primarily driven by a sharp rise in Interest Income, which reached ₹32,014.58 Lakh.
Profit After Tax (PAT): Surged by 57.6% to ₹12,765.72 Lakh (₹127.66 Crore), compared to ₹8,099.02 Lakh in the previous fiscal year.
Fee and Commission Income: Saw a massive jump to ₹1,266.88 Lakh, highlighting the company’s success in diversifying its income streams.
Earnings Per Share (EPS): Basic EPS grew to ₹22.75, compared to ₹14.54 in FY25.
April 17, 2026 07:12
LT Foods Appoints Ritesh Sud as CMO for India & Far East
LT Foods Ltd, a leading billion-dollar global FMCG company in the consumer food space, today announced the appointment of Mr. Ritesh Sud as Chief Marketing Officer – India & Far East, reinforcing its strategic focus on furthering strengthening the brand-led growth, deepening consumer relevance and further advancing its transformation into a future-ready, consumercentric organization.
In his new role, Mr. Sud will provide strategic leadership in reinforcing LT Foods’ market leadership, expanding its footprint in high-growth categories, and translating brand strategy into measurable business outcomes, across India and Far East. He will be working on a mandate to build strong, differentiated, and scalable brands, further strengthening of brand equity, driving premiumisation and unlocking new growth opportunities across categories and consumer segments. His role will encompass innovation-led go-to-market strategies, and enhancing marketing effectiveness across touchpoints. Working closely with the India and Far East leadership teams and cross-functional stakeholders, Mr. Sud will report to Mr. Ritesh Arora, CEO – India & Far East, LT Foods.
April 17, 2026 07:12
Annual financial results | Alok Industries
Alok Industries Limited, a major integrated textile manufacturer backed by Reliance Industries, has announced its audited consolidated financial results for the quarter and year ended March 31, 2026. The company showed a reduction in annual losses and a sequential recovery in revenue during the final quarter of the fiscal year.
Annual Financial Performance (FY26)
The company demonstrated improved operational control, leading to a narrower net loss compared to the previous year:
Total Revenue from Operations: Stood at ₹3,714.79 crore, showing marginal growth over the ₹3,708.78 crore recorded in FY25.
Intellect Design Arena, a global leader in AI-First, enterprise-grade financial technology, today announced that OnCost, Kuwait’s leading FMCG retailer and the nation’s first wholesaler to open its doors to individual consumers, has digitally transformed its operations with eMACH.ai Retail 6DX. This advanced AI-First in-store retail platform has been deployed across OnCost’s branches, marking a strategic leap into next-generation, experience-driven in-store retail.
In a market defined by high consumer expectations and rapid digital adoption, OnCost’s shift to eMACH.ai Retail 6DX represents a conscious pivot from restrictive legacy infrastructure to a cloud-native, microservices-led architecture. By moving away from monolithic systems, OnCost has built a foundation that can respond, learn, and evolve with every customer interaction.
April 17, 2026 07:11
HDFC Life board declares final dividend of ₹2.10 per equity share for FY26
The board of directors of HDFC Life Insurance Company Limited has recommended final dividend of ₹ 2.10 per equity share of face value of ₹10 each for the financial year 2025-26, subject to approval of the shareholders’ at the ensuing Annual General Meeting.
The record date for the purpose of ascertaining the entitlement of the shareholders’ for the final dividend shall be Friday, June 19, 2026.
April 17, 2026 07:09
CUB announces new branch openings today
City Union Bank Limited (CUB) has announced the opening of four new branches today, reaching a significant milestone in its retail network expansion. With these strategic additions, the Bank’s total physical network has increased to 953 branches nationwide.
The new branches are located in key growth corridors, strengthening the Bank’s presence in the southern and eastern markets of India.
April 17, 2026 07:08
Annual Financial Highlights | Waaree Renewables
Waaree Renewable Technologies Limited (WRTL), a subsidiary of the Waaree Group and a leader in the Solar EPC (Engineering, Procurement, and Construction) sector, has announced its audited consolidated financial results for the year ended March 31, 2026. The company has delivered a landmark performance, with revenue and profitability scaling to new heights amid India’s green energy transition.
Annual Financial Highlights (FY26)
The company witnessed a massive surge in project execution and operational scale over the fiscal year:
Total Revenue from Operations: Skyrocketed to ₹3,33,142.22 lakh (₹3,331.4 crore), a staggering 108% increase over the ₹1,59,774.79 lakh reported in FY25.
Net Profit (PAT): More than doubled to ₹47,863.59 lakh (₹478.6 crore), compared to ₹22,892.47 lakh in the previous fiscal year.
Operating Profit (EBITDA): Profit before tax surged to ₹63,961.02 lakh, reflecting robust margins in high-scale solar projects.
Earnings Per Share (EPS): Basic EPS for the year jumped to ₹45.91, up from ₹22.00 in FY25.
April 17, 2026 07:06
Today’s picks: Dozen stocks including Wipro, BPCL, DCM Shriram, DCX Systems, Aditya Infotech will be in focus on Friday
Today’s picks: Dozen stocks including Wipro, BPCL, DCM Shriram, DCX Systems, Aditya Infotech will be in focus on Friday
Stocks to watch: Wipro’s buyback, BPCL’s investment decision, DCM Shriram’s joint venture, and more on Friday’s market focus.
April 17, 2026 06:58
Crude oil falls on prospects for talks to end Iran war and revive supply
Brent crude futures declined by $1.34, or 1.35%, to $98.05 a barrel at 0021 GMT. U.S. West Texas Intermediate crude futures fell $1.65, or 1.74%, to $93.40 a barrel, trimming gains from the previous session.
Gold eyes fourth weekly gain on hopes of US-Iran peace deal
Gold held largely steady on Friday and was on track for a fourth straight weekly gain, as hopes for a U.S.-Iran peace deal eased fears of higher inflation and elevated U.S. interest rates.
(Reuters)
April 17, 2026 06:42
Closing Bell | April 16, 2026 | Sensex, Nifty pare gains to end marginally lower
Benchmark indices ended marginally lower on Thursday after a volatile session, as profit-booking at higher levels and lingering uncertainty around US–Iran talks weighed on sentiment.
Angel One profit up 19% QoQ to ₹320 crore and revenue rising 9% to ₹1,459 crore. EBITDA grew 13% to ₹599 crore, while margins improved to 41% from 39.7%, reflecting strong operating efficiency. The company has also approved plans to raise ₹1,500 crore via NCDs and increased borrowing limits to ₹20,000 crore, indicating growth and balance sheet expansion plans.
April 17, 2026 06:40
Corporate Actions
Dividend
16-Apr-26
ENERGYINF: Income Distribution (InvIT)
17-Apr-26
MUTHOOTFIN: Interim Dividend
22-Apr-26
CIEINDIA: Final Dividend – Rs. – 7.00
SANOFI: Final Dividend – Rs. – 48.00
23-Apr-26
CRISIL: Interim Dividend
SCHAEFFLER: Final Dividend – Rs. – 35.00
IPO
—
Buyback
Aurobindo Pharma: Ex-Date: 17-Apr-26
Bonus Issue
—
Stock Split
Pashupati Cotspin: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 17-Apr-26
String Metaverse: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 24-Apr-26
Right Issue
Gujarat Cotex: Open: 10-Apr-26; Close: 08-May-26
Gravity India: Open: 27-Apr-26; Close: 25-May-26
Open Offer
ADC India Communications: Open: 02-Apr-26; Close: 17-Apr-26
A damaged building, rubble and a destroyed vehicle in the aftermath of Israeli strikes, near Hiram Hospital in Tyre, south Lebanon, April 16, 2026.
| Photo Credit:
LOUISA GOULIAMAKI
Israel and Lebanon have agreed to a 10-day ceasefire, President Donald Trump announced Thursday, two days after the countries held their first direct diplomatic talks in decades in Washington.
The truce that Trump said was scheduled to begin at 5 pm Eastern follows more than a month of war between Israel and the Iran-backed Hezbollah militant group in Lebanon.
Lebanon has insisted on a ceasefire to stop the fighting between Israel and Hezbollah before engaging in more talks, while vowing to commit to disarming the group.
The president also invited the leaders of Israel and Lebanon to the White House for the countries’ first high-level talks since 1983.
Trump announced the pause in fighting on social media, saying it followed “excellent” conversations with Lebanese President Joseph Aoun and Israeli Prime Minister Benjamin Netanyahu.
Trump said he has directed Vice President JD Vance others to work with Israel and Lebanon to “achieve a Lasting PEACE”.
The ongoing geopolitical tensions in West Asia have triggered volatility across global financial markets, forcing investors to reassess risk and reallocate capital. A businessline analysis of benchmark equity indices across major emerging markets and some developed economies for the period between February 27, 2026 and April 15, 2026 reveals Nifty-50 has emerged as one of the better-performing equity benchmarks, underpinned by demand from domestic investors.
In terms of valuation, however, Nifty 50 continues to trade at considerable premium to its emerging market peers.
Global markets under pressure
The West Asia conflict has had uneven effects across global equity markets. Several emerging market indices such as of the United Arab Emirates’ MSCI, which fell by 7.6 per cent, and South Africa’s JSE, which fell by 7.1 per cent for instance, indicate proximity to the zone of conflict or sensitivity to global trade cycles.
Other economies such as Indonesia, whose benchmark index fell by 7.4 per cent between end February and present, and the Philippines whose index fell by 8.3 per cent, seem to have been severely hit due to their excessive dependence on West Asia for their energy and other needs.
While India is also vulnerable to trade disruptions, demand from domestic investors, particularly through the mutual fund route, has helped stocks recover from the lows recorded towards the end of March. Nifty 50 could therefore recoup some of the losses and show relatively smaller loss of 3.7 per cent during the war. South Korea, similarly with its massive petroleum reserve stock, seems to have held onto some investor confidence, as its index fell by 2.4 per cent only.
Valuation comes at a premium
However, the Nifty 50 currently trades at significantly elevated valuation levels compared to its emerging market peers. With a price to earning (P/E) valuation of around 22.4, India stands far over-valued above peers such as China with P/E of 18 and Brazil with P/E of only 13.4, United Arab Emirates with P/E near 9.2, and the Philippines with P/E around 9.4.
This premium valuation raises questions about sustainability. High valuations imply that much of the expected growth is already priced in, leaving limited room for error. Any adverse macroeconomic shift, earnings disappointment, or global risk-off sentiment could trigger sharper corrections in such a richly valued market.
According to NFCSF data, the all India average sugar recovery (sugar produced out of sugarcane) was higher at 9.55% till April 15 of this season as against 9.37% a year ago.
With 520 mills ending crushing of sugarcane after the season started on October 1, 2025, India’s sugar production may be around 28 million tonnes (mt) in 2025-26, industry experts said. The production has reached 27.5 mt until April 15 and crushing may soon end in the currently operational 19 mills, including six in Uttar Pradesh.
Indian Sugar and Bio-energy Manufacturers Association (ISMA) on Thursday released the update on sugar production where it mentioned that as of April 15, sugar production reached 27.48 mt, compared with 25.5 mt on the corresponding date last year, which is 8 per cent higher. A total of 19 factories are currently operational, versus 38 mills operating at the same time last year, it said.
A few mills in Karnataka and Tamil Nadu will operate in the special season from June/July, ISMA said, which could add up to 0.3 mt in the overall production.
“As only 19 factories are operating, sugar production is unlikely to exceed 28 mt. As ethanol supplied to OMCs till March is reportedly 2.1 mt (in terms of sucrose diverted), it is unlikely to hit 3 mt for the season. But as export demand from Afghanistan, African countries and Sri Lanka is robust, sugar exports are likely to reach 1 mt,” said industry expert GK Sood.
Industry seeks MSP revision
Another industry body — National Federation of Cooperative Sugar Factories Ltd (NFCSF) — said a day earlier that sugar output in Maharashtra, the top producer, rose 23 per cent to 9.92 mt as on April 15, as against 8.06 mt year-ago. In Karnataka, the third largest producer, production has increased 17 per cent to 4.71 mt from 4.04 million tonne. But in Uttar Pradesh, which is the second largest sugar producer, this year it has declined 2 per cent to 8.92 mt from 9.1 mt.
ISMA said that at present, six mills are operational, compared to 22 mills year-ago in Uttar Pradesh, which may, industry experts said, end crushing in 7-10 days.
As the sugar season nears its close, the industry is seeking an early revision of the Minimum Selling Price (MSP), it said adding the rising production costs and weak ex-mill realisations are straining mill cash flows and increasing cane payment arrears.
“A timely MSP revision, aligned with current cost structures, is essential to restore financial viability, enable prompt farmer payments, and stabilise the market—without any additional fiscal burden on the government,” ISMA said.
Ethanol procurement
Stressing on the need to accelerate ethanol blending amid rising crude oil prices and evolving geopolitical conditions, ISMA said the government may consider advancing a roadmap beyond E20 towards higher blends such as E22, E25, E27 and E85/E100, as India now has an estimated production capacity of around 2,000 crore litres of ethanol (including from grain-based distilleries). It also requested for faster rollout of flex-fuel vehicles (FFVs) and GST rationalisation to support their adoption.
“Further, the lack of revision in ethanol procurement prices for sugarcane-based feedstocks and lower allocation to the sector have created a mismatch between installed capacity and domestic offtake, leading to underutilised distillation capacity and inventory build-up,” it said seeking a timely price revision in future.
According to NFCSF data, the all India average sugar recovery (sugar produced out of sugarcane) was higher at 9.55 per cent till April 15 of this season as against 9.37 per cent a year ago. For instance, at 10 per cent recovery, a mill will be able to produce 10 kg sugar out of crushing 100 kg (1 quintal) sugarcane.
